CABEI inaugurates Regional Forum on the use of Trusts
Trusts cane be used as instruments in the construction of infrastructure works to provide transparency and security for the management of the funds allocated for their execution.
On Thursday, the Central American Bank for Economic Integration (CABEI) held a Forum called "The Role of Multilateral Banking in the Development of Trust Use." The forum included keynote presentations by specialists from Bolivia, Ecuador and Costa Rica. The inaugural speech was made by Jaime Dunn, a Bolivian international expert on securitization, who won the "Best investment Banker in Bolivia 2011 Award" from the World Finance Magazine and London Stock Exchange. He spoke about "Innovative Securitization Trust Instruments and the participation of Multilateral Banks”
In addition, the event involved the participation of a number of renowned professionals, including Juan Carlos Peralvo, an attorney and Doctor in Jurisprudence from the Pontificia Universidad Católica del Ecuador; José Miguel Mena, a civil engineer from the University of Costa Rica with a graduate degree from Universidad Fundepos; and Jorge Porras, an attorney and political scientist from the University of Costa Rica.
CABEI Executive Vice President Mr. Alejandro Rodríguez Zamora inaugurated the forum and emphasized the importance of Central American countries adopting the example of other Latin American countries where infrastructure projects and programs have been implemented, through innovative schemes using trusts with support from multilateral financial institutions.
During the forum, the experts agreed on the security and transparency provided by trusts and that it is a common practice for the execution of infrastructure development projects, which could increase the region’s competitiveness levels.
Learning about the experiences of other countries convinced the participants that the trusts are effective instruments for attracting resources from international sources to finance development projects.
The event was held in CABEI’s Multipurpose Room and was attended by leading representatives from the public and private sectors, international agencies and regional multilateral banks.
